5 Best CBD Merchant Account Providers

So, you are in the market for a CBD Merchant account provider.

Ideal, because in this article we have our compilation list for our top picks, and we compare the features and pricing for you. 

If you just want the best choice, we’ve added that right at the top of the article as this was what is most requested by our customers and what we see the best feedback with. So, that’ll be the “can’t go wrong” option. 

Otherwise, feel free to explore all the options we’ve reviewed on the market to find something that might fit you a little better.

Enjoy the list!

The Best CBD Merchant Account Provider Specifically

The best CBD merchant account provider should offer high-risk payment processing, advanced fraud protection, and chargeback prevention tools. It must support multiple payment methods, provide seamless integration with eCommerce platforms, and ensure PCI compliance for secure transactions. Additionally, transparent pricing and reliable customer support are crucial. Have a look at the products below!

1. SMG Merchant Account

Unlock seamless transactions and superior payment solutions with the SMG Merchant Account. Designed for businesses seeking flexibility and efficiency, SMG offers a robust platform to manage payments effortlessly, boost your revenue, and enhance customer satisfaction. Explore a world of financial possibilities with SMG today!

SMG Merchant Account Features

SMG Merchant Services offers a comprehensive suite of features tailored to enhance your business's payment processing capabilities while keeping costs low. Their commitment to affordability and transparency is evident in the following key features:

1. Cost-Effective Solutions: SMG Merchant Services prioritizes helping businesses save on credit card processing fees. With no hidden fees, no equipment lease charges, and no account closure fees, businesses can significantly reduce their processing costs. This approach ensures that you only pay for what you use, without any surprise expenses.

2. No Long-Term Contracts: Flexibility is a hallmark of SMG's service offerings. Unlike many providers that lock you into lengthy contracts, SMG Merchant Services operates without long-term commitments. This means you have the freedom to adapt your payment solutions as your business needs evolve.

3. Transparency and Simplicity: SMG Merchant Services is committed to transparency, with no hidden fees and no additional PCI or EMV compliance costs. This straightforward approach simplifies financial management and ensures that you fully understand your payment processing expenses.

4. Versatile Solutions for Various Business Types: Whether you run a restaurant, hotel, floral shop, auto repair shop, or any other retail outlet, SMG Merchant Services provides tailored solutions to meet your specific needs. This versatility ensures that businesses across different industries can benefit from their services.

5. State-of-the-Art Technology: SMG Merchant Services uses the latest credit card processing technology, providing businesses with reliable, efficient, and secure payment solutions. Their technology ensures that transactions are processed swiftly and securely, enhancing both customer satisfaction and operational efficiency.

By choosing SMG Merchant Services, you gain access to a range of features designed to streamline payment processing, reduce costs, and support your business's growth. Their dedication to affordability, flexibility, and transparency makes them a valuable partner for any business looking to optimize its payment operations.

SMG Merchant Account Pricing

SMG Merchant Services offers competitive and transparent pricing with a focus on reducing credit card processing fees for businesses. They provide a cost-effective solution with no hidden fees, no equipment lease charges, and no account closure fees. Unlike many competitors, SMG Merchant Services does not impose PCI or EMV compliance fees, ensuring that businesses only pay for their actual usage without unexpected costs.

Their no-contract policy means businesses can enjoy flexible and adaptable payment solutions without being tied to long-term commitments. This transparent pricing structure helps businesses manage their payment processing costs more effectively, allowing them to focus on growth and customer satisfaction.

2. MOTO Merchant Account

MOTO Merchant Account provides high-risk businesses with secure, easy payment processing. Accept all major cards, enjoy free PCI-compliant gateway setup, fraud prevention, and 3-D Secure. Whether you run a mail-order service or an online store, MOTO Merchant ensures fast, reliable payments with top-tier security.

MOTO Merchant Account Features

MOTO Merchant Account is tailored to meet the needs of high-risk businesses, offering a wide range of features that simplify and secure payment processing. Here’s a closer look at its core features:

1. High-Risk Friendly Payment Processing:  

MOTO Merchant specializes in providing payment solutions for high-risk businesses, which are often rejected by traditional banks. Whether you're in telemarketing, travel, or real estate, MOTO Merchant ensures reliable credit card processing, helping you expand your business without the fear of being denied.

2. Support for Multiple Payment Methods:  

MOTO Merchant supports a variety of payment methods, including all major credit cards and alternative payment options. This versatility ensures that your customers can make purchases conveniently, regardless of their preferred payment method. The platform is also equipped to handle mail order and telephone order (MOTO) transactions seamlessly.

3. Free PCI-Compliant Payment Gateway Setup:  

Security is a top priority for MOTO Merchant. With a free PCI DSS-compliant payment gateway setup, your business is equipped with the highest standard of data protection, minimizing the risk of fraud and ensuring secure transactions. This compliance is critical for maintaining customer trust and safeguarding sensitive payment information.

4. Fraud Prevention & 3-D Secure:  

MOTO Merchant includes advanced fraud prevention tools to protect your business from scams and chargebacks. The integration of 3-D Secure, a system supported by Verified by VISA and Mastercard SecureCode, adds an extra layer of authentication, reducing the chances of fraudulent transactions.

5. Recurring Billing Options:  

For businesses that operate on a subscription model, MOTO Merchant offers recurring billing services. This feature automates the payment process, making it easier for you to manage regular payments without manual intervention. It’s ideal for businesses such as SEO companies, subscription-based services, and debt settlement firms.

6. Online Reporting & Transaction Monitoring:  

MOTO Merchant offers a comprehensive online reporting facility that enables you to track and monitor all your transactions in real-time. This feature helps businesses stay on top of their payment activity, analyze trends, and quickly resolve any payment discrepancies or issues.

7. Integration with Shopping Cart Modules:  

For e-commerce businesses, MOTO Merchant supports integration with various shopping cart modules, making it easy to incorporate the payment gateway into your existing website. This ensures a smooth and efficient checkout process, enhancing customer satisfaction.

In summary, MOTO Merchant Account provides a robust suite of features designed to cater to high-risk merchants. From fraud prevention to recurring billing and multi-payment support, it equips businesses with the tools they need to grow and succeed in a competitive market.

MOTO Merchant Account Pricing

MOTO Merchant Account provides competitive and transparent pricing tailored to your business needs. Rates for processing typically start around 1.5% but may vary based on factors such as your industry, processing history, and specific requirements. 

Key features of the MOTO Merchant pricing structure include:

• Setup Fee: Free
• Monthly Fee: Free
• Gateway Fee: Free
• Virtual Terminal: Free
• Customer Support: Free
• Automated Recurring Billing: Free
• Merchant Interface: Free
• 3-D Secure: Free
• Fraud Prevention Tools: Free

These features contrast favorably with industry averages, where setup fees range from $45 to $125, monthly fees from $10 to $20, and gateway fees from $9 to $20. 

While some fees may apply if additional services are required or if Advanced Payments provides the merchant account, MOTO Merchant strives to keep costs low and transparent. For the most accurate pricing, it’s advisable to consult directly with Advanced Payments or their third-party solutions.

3. Affirm Merchant Account

Unlock seamless, flexible payment solutions with an Affirm Merchant Account. Perfect for businesses looking to offer modern, buy-now-pay-later options, Affirm empowers your customers with the freedom to split payments into manageable installments while boosting your sales. Elevate your checkout experience and drive growth today!

Affirm Merchant Account Features

Affirm Merchant Accounts offer a comprehensive suite of features designed to enhance the payment experience for businesses and their customers. These features are tailored to meet the diverse needs of modern commerce, whether you're operating online, in-store, or through telesales.

Adaptive Checkout

Adaptive Checkout is one of Affirm's standout features. It utilizes predictive technology to tailor payment options based on each customer's profile and purchasing behavior. This personalization increases the likelihood of conversion, allowing businesses to reach new customers and boost sales. With Adaptive Checkout, Affirm provides more than just basic payment plans; it dynamically adjusts to offer terms that optimize both customer satisfaction and revenue.

Omnichannel Presence 

Affirm's Omnichannel Presence is another key advantage. The platform integrates seamlessly across various sales channels, including e-commerce sites, physical stores, and telesales. For online sales, Affirm offers quick and easy integration into your website, ensuring a smooth checkout process for customers. In physical retail environments, Affirm provides compelling in-store signage that highlights flexible payment options. For telesales, the platform enables businesses to serve customers without handling their confidential data, thanks to its secure virtual card solutions.

Customer Engagement and Retention

By allowing customers to split their purchases into manageable payments, Affirm not only drives initial sales but also encourages repeat business. The platform's data-driven approach helps businesses engage high-lifetime-value customers and boost repeat purchase rates, which is crucial for long-term growth.

Flexibility and Security

Affirm supports various payment methods, including major credit and debit cards, digital wallets like Apple Pay and Google Pay, and even HSA and FSA cards. This wide range of payment options ensures that businesses can cater to a broad spectrum of customer preferences while maintaining stringent security standards. Affirm's platform is built with advanced encryption and PCI compliance, safeguarding both transaction data and customer information.

Scalability

Finally, Scalability is a vital feature for businesses looking to grow. As your sales volume increases, Affirm’s infrastructure supports scaling without compromising performance. For businesses handling high transaction volumes, Affirm provides personalized support to ensure a smooth transition and ongoing success.

Overall, Affirm Merchant Accounts offer a robust, flexible, and secure solution that enhances payment experiences, drives sales, and supports business growth across multiple channels.

Affirm Merchant Account Pricing

Affirm Merchant Account pricing is tailored to meet the needs of businesses of all sizes. With over 245K merchants already leveraging Affirm's flexible payment options, pricing plans are designed to attract new customers, increase cart size, and boost sales.

The cost of integrating Affirm depends on your specific business requirements, ensuring a scalable solution that aligns with your goals. By choosing the right pricing plan, you can seamlessly add Affirm to your checkout process and start converting browsers into buyers with flexible, pay-over-time options for your customers.

4. eCheck Merchant Account

Discover the convenience and efficiency of eCheck Merchant Accounts, designed to streamline your payment processing. With eChecks, you can easily accept payments directly from customers' bank accounts, reducing transaction fees and processing times while enhancing your business's cash flow management.

eCheck Merchant Account Features

Explore the powerful features of eCheck Merchant Accounts that streamline payment processing, enhance security, and improve financial management. From seamless eCommerce integration to real-time reporting and automated billing, these features are designed to optimize your payment operations and elevate your business efficiency.

eCommerce Integration

Seamlessly integrating with popular eCommerce platforms, eCheck Processing simplifies accepting electronic checks. This integration not only reduces reliance on credit card payments, which often come with higher fees, but also enhances transaction security. By streamlining the payment process, eChecks offer a smoother and more reliable checkout experience for your customers.

Cloud-Based Reporting

With Cloud-Based Reporting, you gain real-time access to all your transaction data. This feature allows you to monitor sales, track payments, and generate comprehensive reports from any device. The cloud-based system provides up-to-date financial insights, enabling you to make informed business decisions and stay on top of your financial performance with ease.

Virtual Terminal

The Virtual Terminal transforms any computer into a payment processing hub, ideal for handling phone or mail orders. It allows you to manually process eCheck payments effortlessly. User-friendly and versatile, this feature supports various payment types, streamlining remote transactions and reducing the complexities of manual processing.

Hosted Pay Pages

Hosted Pay Pages offer a secure and branded payment experience. These customizable pages are designed to match your business’s branding, providing a consistent and trustworthy environment for your customers. This feature enhances customer confidence and satisfaction by ensuring a secure online payment experience.

Invoice by Email

The Invoice by Email feature simplifies billing by enabling you to send professional, customizable invoices directly to your customers' email addresses. This feature not only speeds up payment collection but also reduces paper waste, contributing to a more efficient and eco-friendly billing process.

Recurring Billing

Managing subscription and membership payments is made easy with Recurring Billing. This feature allows you to set up automated payments according to a schedule that fits your business needs. It ensures timely payments, decreases administrative workload, and improves customer retention by providing a hassle-free payment experience.

Payment Gateway

The robust Payment Gateway acts as a secure link between your website and financial institutions. It ensures swift and secure transactions with advanced fraud detection and support for multiple payment options. This feature provides a reliable environment for processing eChecks, enhancing the overall security and efficiency of your transactions.

Lockbox Services

Lockbox Services streamline your payment collection by processing checks through a secure, centralized location. This feature reduces manual handling, speeds up deposit times, and improves cash flow management. It offers the convenience of efficient and accurate payment processing, enhancing your overall financial operations.

eCheck Merchant Account Pricing

eCheck Processing offers a straightforward and affordable pricing plan designed to fit various business needs. For just $19.99 per month, you gain access to unlimited check processing, ensuring you can handle as many transactions as your business requires without any extra fees.

The plan also includes next-day funding, eInvoicing, and enhanced verification for added security. Additionally, eCheck Processing supports donation forms and custom billing plans to cater to your unique business model.

Volume discounts are available, making this an even more cost-effective solution as your business grows. With one simple plan and one low rate, eCheck Processing simplifies your payment processing needs. Apply now to streamline your business operations.

5. Venmo Merchant Account

Boost your business with Venmo's Merchant Account, offering a seamless, fast, and secure way for customers to pay using their Venmo balance. Whether in-store or online, Venmo makes payments easy, increasing convenience and driving sales while connecting you to millions of active Venmo users.

Venmo Merchant Account Features

Venmo, a service of PayPal, offers businesses a seamless way to accept payments, providing an easy, familiar option for millions of customers. With Venmo, businesses can enhance the customer experience by offering multiple payment methods, both online and in person, making it one of the friendliest platforms for business transactions. Here’s a closer look at some key features that make Venmo a standout option for merchants:

1. Venmo Business Profiles

Venmo allows businesses to create dedicated profiles that customers can use for payments directly through the Venmo app. By offering Venmo as a payment option, businesses tap into a growing user base that prefers Venmo for its convenience, familiarity, and social aspects. Businesses can accept payments through cards, digital wallets, and the Venmo balance, ensuring a range of options for customers.

2. In-App and Online Payments

Venmo enables merchants to integrate payments within their apps or websites. By adding Venmo as a checkout option, businesses create a more streamlined and familiar purchasing experience for their customers. This is particularly valuable for mobile-driven purchases, where quick and easy transactions are key to retaining customers and reducing cart abandonment. Retailers like Abercrombie & Fitch have integrated Venmo into their mobile apps, offering customers a simple, fast payment process using their Venmo balance.

3. Social Visibility and Engagement

One of Venmo’s unique features is its social aspect. Every payment made on Venmo has the option to be shared socially, increasing visibility for businesses. Customers can split and share payments with friends, providing additional organic marketing opportunities for businesses. This social visibility helps brands build trust and recognition within Venmo's large, engaged community of users.

4. Ease of Use for Customers

Venmo’s platform is designed to prioritize user convenience. Customers can pay using their available Venmo balance or linked bank accounts, cards, or digital wallets. This flexibility leads to smoother transactions, making it easier for customers to complete purchases without hurdles. Companies like delivery.com have seen significant customer engagement by offering Venmo as a payment method, enabling users to split payments easily among friends.

5. Wide Adoption by Major Merchants

Venmo is already accepted by over 2 million merchants across various industries, including fashion, food delivery, and retail. High-profile partners like Poshmark and Hollister have reported positive results, noting Venmo’s ease of integration and its popularity among customers. These businesses value the speed, simplicity, and social reach that Venmo provides, helping them acquire and retain customers more effectively.

6. Security and Trust

Venmo, as part of PayPal, offers a high level of security and trust. Payments through Venmo are encrypted, and businesses benefit from PayPal's extensive security infrastructure. This gives both merchants and customers peace of mind when processing payments, ensuring data protection and secure transactions.

By offering these features, Venmo helps businesses drive sales, attract new customers, and enhance their overall payment experience. With its social engagement, ease of integration, and trusted reputation, Venmo is a powerful tool for merchants looking to grow their business and tap into a highly active customer base.

Venmo Merchant Account Pricing

Venmo offers businesses a simple and transparent pricing model. When accepting payments through a Venmo business profile, merchants are charged a transaction fee of 3.49% + $0.49 for every payment received. This fee applies to payments made using Venmo balances, bank accounts, or cards.

Venmo’s pricing is designed to be competitive and accessible for businesses of all sizes, ensuring that merchants can offer customers a familiar, trusted payment method without significant cost overheads. Additionally, there are no setup or monthly fees, making it easy for businesses to start accepting Venmo payments without a large upfront investment.

This straightforward pricing model allows businesses to optimize their payment process while offering a seamless experience to millions of Venmo users, ultimately helping to increase customer satisfaction and sales conversion rates.

Why use a Merchant Account at all?

A merchant account is vital for any business aiming to accept payments seamlessly and securely. It facilitates transactions by acting as an intermediary between the customer’s payment method and your business bank account, enabling the acceptance of various payment forms like credit cards and digital wallets. 

Moreover, having a merchant account enhances your credibility and professionalism, as customers are more likely to trust businesses that offer multiple payment options.

These accounts also come with built-in security measures, such as fraud detection and PCI compliance, safeguarding sensitive customer data. Ultimately, a merchant account simplifies payment processing, allowing your business to focus on growth and customer satisfaction.

Why do CBD Businesses need a Merchant Account?

CBD businesses need a merchant account to operate efficiently and securely in a high-risk industry. Due to the nature of their products, CBD businesses often face stricter regulations and higher scrutiny from financial institutions. A specialized merchant account tailored for high-risk businesses allows CBD companies to process payments seamlessly, providing the necessary infrastructure to accept credit cards, debit cards, and digital payments from customers.

One of the primary reasons a CBD business requires a merchant account is the ability to handle high-risk transactions. Many traditional banks and payment processors classify CBD-related businesses as high-risk due to regulatory uncertainties and potential legal challenges. As a result, without a merchant account that caters to high-risk industries, CBD companies may struggle to process payments or may face sudden account closures, leading to business disruptions.

Security is another significant factor. Merchant accounts specifically designed for high-risk businesses come with robust fraud prevention and chargeback management tools. The CBD industry is prone to a higher rate of chargebacks and fraudulent activities, so having a reliable payment processor with built-in security features helps protect both the business and its customers.

Moreover, a merchant account allows CBD businesses to accept a wide range of payment methods, increasing customer convenience and boosting sales. Offering flexibility in how customers can pay, whether through credit cards, debit cards, or online payments, improves the overall shopping experience and encourages repeat business.

Lastly, a merchant account provides access to detailed reporting and analytics, which are vital for tracking sales, monitoring customer behavior, and managing cash flow. These insights enable CBD businesses to make informed decisions, optimize their operations, and scale effectively as the market grows.

Best CBD Merchant Account Provider, A Summary

In conclusion, a specialized merchant account is essential for CBD businesses to ensure smooth payment processing, security, and scalability in a high-risk industry. Without one, they risk losing revenue and compromising customer trust.

For CBD businesses, the SMG Merchant Account is the top choice. It specializes in high-risk industries, offering tailored solutions with advanced fraud protection, chargeback management, and seamless integration for CBD payments. Its expertise in navigating regulatory complexities makes it ideal for CBD businesses looking for reliable payment processing.